New Delhi, July 1 -- KPIT Technologies share price fell over 15% to Rs.570.80 apiece in Monday's trading session after the company announced its preliminary business update on Q1 FY27.

The stock opened at Rs.604.40 apiece on NSE today, as compared to previous close of Rs.671.55 on Tuesday.

KPIT Technologies said it expects its reported revenue for the first quarter of FY27 to decline by around 1% year-on-year in U.S. dollar terms compared with the corresponding quarter last year. The company attributed the expected decline to sudden actions taken by certain European original equipment manufacturers (OEMs) after they issued profit warnings and flagged a weak business outlook.

The company said the impact surfaced only in recent weeks and...